Obama's Stimulus Plan - Is this actually correct?

obamastimSeptember 20, 2009

I recently saw this article (copy and pasted below) which I think came from this site: http://obamasstimuluspackage.net But what I'm wondering is, 1. Is it actually right? And also, what about the $8,000 tax credit? How does that part work with this?

"Here are the key features of the Stimulus Package:

- In the past, if your home equity was under 20% you could not apply for a loan modification. Under the new Package, these homeowners will qualify for loan modification. Loans with Freddie Mac or Fannie Mae are eligible for loan modification.

- The new monthly mortgage payments will not exceed 31% of your gross monthly income.

- If you currently have an adjustable rate mortgage, you can modify your loan to be a fixed rate mortgage. With the steady drop in interest rates from 6.5% to 5.16%, this can add significant monthly savings for the homeowner.

- Finally, the mortgage terms can be extended by 20-30 years further reducing your monthly payments through a reduction in your mortgage rate."

Thanks for the advice you can give...I'm kind of on a tight deadline if you know what I mean.

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dave_donhoff

Hi "obmastim"...

The odd 'coincidence' that your freshly registered username just so happens to coincide with a supposedly non-related website you are asking about raises immediate suspiscion that you are emrely a spammer.

Then, when I visited the site you linked, and I see it is nothing but a generic advertisement selling page, I put 2 and 2 together; You're trying to drive up hit counts to this page at minimum, and hopefully drive additional hit counts to the links you've sold to the suckers on that page.

If I am being overly cynical, I apologize... we get a fair share here of what I just described, and you're amazingly identical.

If your question is sincere, then you can get all the details & verification you want from the government's explanative website;
http://www.makinghomeaffordable.gov/

Cheers,
Dave Donhoff
Leverage Planner

PS. GIYF - "Google Is Your Friend!"

Here is a link that might be useful: Making Home Affordable

    Bookmark   September 20, 2009 at 6:17PM
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mariend

Thanks Dave for clarification. I too am uneasy with this posting. If this is an ad for his stuff then it will be removed.

    Bookmark   September 22, 2009 at 8:21PM
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